The Nashville perspective

Housing data dictionary: what each measure can tell you

Define the observation before calculating the statistic. In this site's research methods, an asking price is not a sold value, missing data is not zero, and a snapshot is not a history of changes.

Prices and cohorts

Original asking price refers to the starting asking-price field in the source record. Current asking price refers to the asking price observed in an active snapshot. Sale price refers to the recorded consideration in a closed-sale record. These labels describe fields; source documentation is needed to establish exactly how a particular export populates them.

MeasureInterpretation check
Active countWhich statuses and extraction timestamp are included?
Closed-sale countWhich closing-date interval and property types are included?
Median priceIs this asking or closed sale price, and what is the sample?
Price per areaIs the area definition consistent across the records?
Days on marketHow does the source define and reset its counter?

Missing does not mean none

If a concessions field is blank, the record may not tell you whether concessions were absent or unreported. Treat that value as unknown until the source rules establish otherwise. Similarly, an absent HOA figure does not prove no association obligation. Report the number observed separately from the number eligible.

A reproducible calculation

For a hypothetical reduction-share table, include only records with valid original and current asking prices. Count the records where current is lower, then divide by that eligible count. State how many otherwise eligible records were excluded for missing prices. Keep listing records and unique properties distinct if relists can appear.

Time and comparisons

Use explicit start/end dates, extraction time and geography. Two overlapping three-month windows share observations; do not present them as independent monthly samples. A comparison across areas also needs consistent status, property-type and price-band rules. More decimal places cannot repair incompatible definitions.

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